Datcu Mortgage Rates, Fees & Info

Corinth, TX

LEI: 549300FOPGYPVP42FW34

Tax ID: 75-0813379

5 stars - Updated: 12/2/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Datcu is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Datcu has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Dallas, Sherman, Gainesville, Houston, and Athens among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Datcu has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Datcu is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.53% 12/2/24
30 Year Conventional Refi 6.34% 12/2/24
30 Year Cash-out Refi 6.50% 12/2/24
30 Year FHA Purchase 7.01% 12/2/24
15 Year Conventional Purchase 6.13% 12/2/24
15 Year Conventional Refi 6.13% 12/2/24
15 Year Cash-out Refi 6.13% 12/2/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Datcu Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Datcu. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

369

Origination Dollar Volume (All Markets)

$45,985,000

Awards

DATCU 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Datcu's average 30 year fixed mortgage rate was 6.53%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.05%.

Relative Fees (Closing Costs)

Datcu's average total fees/closing costs for a 30 year fixed rate mortgage were $5,032.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 346 $42,380,000 $122,486 $2,012 7.16%
Outside of Metro Areas 6 $1,270,000 $211,667 $2,776 6.90%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $725,000 $725,000 $3,741 6.75%
Gainesville, TX (FHA|USDA|VA) 9 $695,000 $77,222 $1,012 7.22%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $475,000 $158,333 $4,549 6.04%
Athens, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,141 6.38%
WACO, TX (FHA|USDA|VA) 1 $125,000 $125,000 $4,294 5.88%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $45,000 $45,000 $414 7.25%
Paris, TX (FHA|USDA|VA) 1 $35,000 $35,000 $439 7.50%
Datcu's top markets include Dallas, Sherman, Gainesville, Houston, and Athens among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against DATCU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FC LENDING, LTD.
    Similarity Rank: 645
    East West Bank
    Similarity Rank: 666
    VeraBank
    Similarity Rank: 744
    DATCU
    Similarity Rank: 981
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1050
    AAXY L.L.C.
    Similarity Rank: 1088
    Inwood National Bank
    Similarity Rank: 1452
    LONE STAR
    Similarity Rank: 1736
    RB MORTGAGE LLC
    Similarity Rank: 1872

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 310 $38,410,000 $123,903 $1,877 6.84%
    HELOC 52 $5,330,000 $102,500 n/a 9.06%
    FHA 7 $2,245,000 $320,714 $9,144 6.18%

    For 2023, Datcu's most frequently originated type of loan was Conventional, with 310 originations. Their 2nd most popular type was HELOC, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 277 $25,485,000 $92,004 $1,377 7.34%
    Home Purchase 51 $15,565,000 $305,196 $5,398 6.47%
    Refi 41 $4,935,000 $120,366 $1,486 6.63%

    For 2023, Datcu's most frequently cited loan purpose was Cash Out Refi, with 277 originations. The 2nd most popular reason was Home Purchase, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 210 $18,960,000 $90,286 $1,180 7.46%
    30 Year 78 $22,170,000 $284,231 $5,032 6.53%
    10 Year 63 $2,675,000 $42,460 $465 6.93%
    20 Year 9 $1,795,000 $199,444 $3,827 6.99%
    5 Year 9 $385,000 $42,778 $352 6.58%

    For 2023, Datcu's most frequently cited loan duration was 15 Year, with 210 originations. The 2nd most popular length was 30 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 214 $13,530,000 $63,224
    $1k-2k 103 $27,125,000 $263,350

    Datcu's average total fees were $5,032, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 151 $22,235,000 $147,252
    7-8% 105 $9,615,000 $91,571
    Over 8% 58 $5,700,000 $98,276
    5-6% 54 $8,370,000 $155,000
    4-5% 1 $65,000 $65,000

    During 2023, Datcu's average interest rate for loans was 6.53%, while their most frequently originated rate bucket for loans was 6-7%, with 151 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 239 $13,185,000 $55,167 $541 7.31%
    $100k-200k 55 $7,755,000 $141,000 $3,478 6.91%
    $200k-400k 55 $14,455,000 $262,818 $4,796 6.92%
    $400k-600k 15 $7,005,000 $467,000 $6,801 6.13%
    $600k-1MM 4 $2,580,000 $645,000 $5,039 6.56%
    $1MM+ 1 $1,005,000 $1,005,000 $0 9.50%

    2023 saw Datcu place emphasis on $100,000 or less loans with 239 originations, totaling $13,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 108 $14,460,000 $133,889 $2,033 7.16%
    $100k-150k 103 $12,735,000 $123,641 $2,127 7.10%
    $75k-100k 76 $7,950,000 $104,605 $2,028 7.15%
    $50k-75k 42 $2,930,000 $69,762 $1,356 7.29%
    $250k+ 27 $7,095,000 $262,778 $3,270 7.29%
    $50k or less 13 $815,000 $62,692 $1,270 6.49%

    Datcu lent most frequently to those with incomes in the $150k-250k range, with 108 originations. The second most popular income band? $100k-150k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 108 $15,780,000 $146,111 $2,768 6.92%
    30-36% 73 $9,485,000 $129,932 $1,990 7.13%
    <20% 65 $10,745,000 $165,308 $2,667 6.77%
    43% 14 $1,120,000 $80,000 $1,153 7.54%
    39% 13 $705,000 $54,231 $572 7.29%
    42% 11 $605,000 $55,000 $374 7.75%
    40% 11 $735,000 $66,818 $1,102 7.16%
    44% 11 $865,000 $78,636 $1,006 7.28%
    45% 10 $940,000 $94,000 $1,806 7.69%
    38% 10 $840,000 $84,000 $1,105 7.10%
    36% 10 $1,110,000 $111,000 $1,743 7.64%
    41% 8 $760,000 $95,000 $1,203 7.95%
    46% 7 $605,000 $86,429 $843 7.75%
    47% 5 $295,000 $59,000 $372 7.30%
    37% 4 $140,000 $35,000 $390 7.44%
    48% 3 $235,000 $78,333 $1,656 8.08%
    49% 3 $245,000 $81,667 $1,637 8.17%
    50-60% 2 $400,000 $200,000 $0 9.50%
    >60% 1 $375,000 $375,000 $5,310 7.00%

    Datcu lent most frequently to those with DTI ratios of 20-30%, with 108 originations. The next most common DTI ratio? 30-36%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 274 $34,300,000 $125,182 $2,113 7.07%
    Not provided 75 $9,175,000 $122,333 $1,752 7.28%
    Asian 5 $1,225,000 $245,000 $3,802 6.78%
    American Indian 5 $605,000 $121,000 $1,814 8.03%
    Black 9 $605,000 $67,222 $997 7.86%
    Native Hawaiian or Islander 1 $75,000 $75,000 $414 6.75%

    Approval Rates

    Total approvals of all applications
    68.74%

    Datcu has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    65.58%

    Datcu has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 369 $45,985,000 $124,621

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    369 $45,985,000 $124,621

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 75 $8,915,000 $118,867 $2,279 7.15%
    40-60% 20 $5,460,000 $273,000 $4,405 6.64%
    60-80% 26 $7,750,000 $298,077 $4,380 6.81%
    80-100% 33 $11,685,000 $354,091 $6,003 6.43%
    Under 20% 215 $12,175,000 $56,628 $618 7.33%